The "Active Manager" is officially a legacy technology.

Investors are on track to pull $605 billion out of active equity funds this year.

The reason is simple: only 29% of these "geniuses" actually beat their benchmarks.

People are tired of paying 2% fees for 1% underperformance.

We are watching the total industrialization of capital.

The money is flowing into systematic, passive ETFs that don't sleep, don't take lunch breaks, and don't charge for "gut feelings."

This creates a massive concentration risk at the top of the index, but for the average investor, it’s a survival move.

The era of the star stock-picker is over; the era of the algorithm is just beginning.